As per the latest directive from the Singapore Police Force (SPF), May 13 onwards travelers moving in or out of Singapore with cash or bearable negotiable instruments exceeding S$20,000 (approximately US$14,700) will be required to declare the amount online. This new mandate is aimed at combating money laundering and other illicit activities by reducing paperwork.
Such declarations are required for all bearable negotiable instruments, including traveler’s cheques, money orders, and postal orders. Up until now, cash declarations had to be submitted in hard copy but this requirement will be discontinued, aligning with Singapore’s push towards digital solutions in border management.
The SPF emphasized that this digital move will make the process “simpler and more convenient” for travelers. Authorities have clarified that failure to make accurate cash declarations could result in penalties, including a fine of up to S$50,000, jail term of up to three years, or both.
How to Submit an Online Cash Declaration
- Travelers can access the new online cash declaration form either through the Immigration and Checkpoints Authority’s (ICA) website or the MyICA application.
- The process requires individuals to provide specific details including their personal particulars, the origin and destination of the money, and the purpose for moving such amounts.
- Additionally, details about the types and amounts of cash and negotiable instruments, as well as information about the sources and intended recipients, if applicable, must be included.
- Upon arriving in Singapore, travelers can complete their cash declaration while filling up the Singapore Arrival Card online.
- Successful submissions will generate an acknowledgement email, which serves as proof of declaration and must be presented to ICA officers at checkpoints when required.
Travelers have the flexibility to make their declarations up to three days before arriving or departing from Singapore. It is crucial, however, that they complete this declaration before reaching Singapore’s checkpoints to avoid any legal complications.
In cases where travelers make an error in their declaration, they are required to void it and submit a new one online. Should there be changes in their travel plans, the declaration must also be voided to reflect the updated information accurately.
This new regulation is part of Singapore’s broader efforts to enhance security and streamline immigration processes, such as the recent introduction of QR code-based immigration clearance. As the country continues to leverage technology to improve efficiency and security, travelers are encouraged to familiarize themselves with these new procedures to ensure a smooth and compliant travel experience.
